Axita Cotton gains on bagging export order

Axita Cotton rose 2.38% to Rs 57.26 after the company received contract from Bangladesh's Taraspinning Mills and Khadiza Sadek Spinning Mills for Indian raw cotton, aggregating $2,716,091.84.

The sales contract will be executed by 30 April 2023.

Kadi-Mehsana (Gujarat)-based Axita Cotton manufactures and exports cotton bales and cotton seeds.

The company reported 12.96% fall in net profit to Rs 4.70 crore on a 22.52% decline in sales to Rs 130.45 crore in Q3 FY23 over Q3 FY22.

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